Comments on: The Daily Approach to Financial Improvement http://www.savingadvice.com/articles/2009/05/21/104486_the-daily-approach-to-financial-improvement.html Bridging the gap between saving money and investing Fri, 25 May 2012 19:43:55 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Gail http://www.savingadvice.com/articles/2009/05/21/104486_the-daily-approach-to-financial-improvement.html/comment-page-1/#comment-600415 Gail Thu, 04 Jun 2009 21:54:38 +0000 http://www.savingadvice.com/blog/?p=4486#comment-600415 I'm disabled and so there aren't a lot of ways to increase income, so I take great joy in each little way that I can save and reduce bills. We have some credit card bills we are trying to pay off. I try to pay a set amount each month as soon as the bill arrives, AND I pay it on line. I save the price of a stamp, and paying on line avoids the thoughts of late fees and the sooner principle is paid on the balance the less finance charges will be added. It may only be pennies each month, but as the price of stamps have gone up, each bill I pay automatically is saving money. Ten bills a month paid on line saves you $4.40 or close to $50 year. Switching to paperless IRA accounts saves us $50 a year. Paying my Medicare supplements automatically saves us $50 a year and the cost of the stamps (and the price of the checks) each month. Little things do add up. I love finding ways that as soon as it is set up, I never have to think of it again, other than making sure the money is in the checking account, and it keeps saving us money year after year. It is why you keep a running grocery list so that when you open or use the last of anything, it is put on the list so you remember to buy it on your next errand day rather than having to make an extra trip...it saves you money. The big thing is not to forget to put the savings into savings or against the credit cards, unless you are so broke those 'savings' are what is keeping your head above water. In that case the more you can save the easier your life becomes. I’m disabled and so there aren’t a lot of ways to increase income, so I take great joy in each little way that I can save and reduce bills. We have some credit card bills we are trying to pay off. I try to pay a set amount each month as soon as the bill arrives, AND I pay it on line. I save the price of a stamp, and paying on line avoids the thoughts of late fees and the sooner principle is paid on the balance the less finance charges will be added. It may only be pennies each month, but as the price of stamps have gone up, each bill I pay automatically is saving money. Ten bills a month paid on line saves you $4.40 or close to $50 year. Switching to paperless IRA accounts saves us $50 a year. Paying my Medicare supplements automatically saves us $50 a year and the cost of the stamps (and the price of the checks) each month. Little things do add up.

I love finding ways that as soon as it is set up, I never have to think of it again, other than making sure the money is in the checking account, and it keeps saving us money year after year.

It is why you keep a running grocery list so that when you open or use the last of anything, it is put on the list so you remember to buy it on your next errand day rather than having to make an extra trip…it saves you money.

The big thing is not to forget to put the savings into savings or against the credit cards, unless you are so broke those ‘savings’ are what is keeping your head above water. In that case the more you can save the easier your life becomes.

]]> By: minny http://www.savingadvice.com/articles/2009/05/21/104486_the-daily-approach-to-financial-improvement.html/comment-page-1/#comment-600341 minny Thu, 04 Jun 2009 17:51:30 +0000 http://www.savingadvice.com/blog/?p=4486#comment-600341 Oh yes, my husband and I have a very simple view. We have a caravan - it is 20 years old but in good condition. It cost us very little money to buy. We were away this last week and on the site was a large, new and very expensive caravan - it must have cost ten times what ours did - what did they get for the extra money? You tell me. We have a small sailing boat - it cost very little. We could have bought one for ten times the same money - but what extra would we have got? We have a modest television - we could have spent four times as much and got a huge plasma television - we woukld watch the same programmes. We could have spent an extra Oh yes, my husband and I have a very simple view. We have a caravan – it is 20 years old but in good condition. It cost us very little money to buy. We were away this last week and on the site was a large, new and very expensive caravan – it must have cost ten times what ours did – what did they get for the extra money? You tell me.

We have a small sailing boat – it cost very little. We could have bought one for ten times the same money – but what extra would we have got?

We have a modest television – we could have spent four times as much and got a huge plasma television – we woukld watch the same programmes.

We could have spent an extra

]]> By: Slinky http://www.savingadvice.com/articles/2009/05/21/104486_the-daily-approach-to-financial-improvement.html/comment-page-1/#comment-594584 Slinky Tue, 26 May 2009 19:28:32 +0000 http://www.savingadvice.com/blog/?p=4486#comment-594584 This is an interesting approach for people who manage their money more on a daily basis. I would think it would be especially good with those trying a cash only system. This is an interesting approach for people who manage their money more on a daily basis. I would think it would be especially good with those trying a cash only system.

]]> By: Cherryl Hanson-Simpson http://www.savingadvice.com/articles/2009/05/21/104486_the-daily-approach-to-financial-improvement.html/comment-page-1/#comment-591511 Cherryl Hanson-Simpson Fri, 22 May 2009 17:15:33 +0000 http://www.savingadvice.com/blog/?p=4486#comment-591511 I enjoyed reading your article. I agree with all what you have said. Persons always think about the lump sum not understanding that it is the small amount that makes it up. Patience also goes hand in hand with finances and one has to practice this as well. Everything in life takes sacrifices and once we are prepare to do this then the reward will be one that we are looking for. I enjoyed reading your article. I agree with all what you have said. Persons always think about the lump sum not understanding that it is the small amount that makes it up. Patience also goes hand in hand with finances and one has to practice this as well. Everything in life takes sacrifices and once we are prepare to do this then the reward will be one that we are looking for.

]]> By: Jackie http://www.savingadvice.com/articles/2009/05/21/104486_the-daily-approach-to-financial-improvement.html/comment-page-1/#comment-591139 Jackie Thu, 21 May 2009 18:44:12 +0000 http://www.savingadvice.com/blog/?p=4486#comment-591139 This is a great idea. I've broken my savings and expenses down into monthly totals, but never thought about it on a daily basis. Most of my big expenses are fixed and can't go any lower, so I find my budget busters are the little things. Stopping at QT for a pop most days, impulse buying a pair of cute flipflops or a tshirt, etc. This will really help me to know exactly how those little purchases are hurting my savings goals. This is a great idea. I’ve broken my savings and expenses down into monthly totals, but never thought about it on a daily basis. Most of my big expenses are fixed and can’t go any lower, so I find my budget busters are the little things. Stopping at QT for a pop most days, impulse buying a pair of cute flipflops or a tshirt, etc. This will really help me to know exactly how those little purchases are hurting my savings goals.

]]> By: Matt http://www.savingadvice.com/articles/2009/05/21/104486_the-daily-approach-to-financial-improvement.html/comment-page-1/#comment-591059 Matt Thu, 21 May 2009 15:33:38 +0000 http://www.savingadvice.com/blog/?p=4486#comment-591059 I agree in the sense that when the majority of individuals attempts to set goals for themselves they create a broad representation of what they feel their goal is. Goals should be specific and to the point so breaking down your yearly resolution into monthly, weekly, or better yet daily events can really make a different. This method of practice is also good to keep an individual on their toes and not just push their goal out of sight. I agree in the sense that when the majority of individuals attempts to set goals for themselves they create a broad representation of what they feel their goal is. Goals should be specific and to the point so breaking down your yearly resolution into monthly, weekly, or better yet daily events can really make a different. This method of practice is also good to keep an individual on their toes and not just push their goal out of sight.

]]> By: Myrna Garren http://www.savingadvice.com/articles/2009/05/21/104486_the-daily-approach-to-financial-improvement.html/comment-page-1/#comment-591030 Myrna Garren Thu, 21 May 2009 14:26:43 +0000 http://www.savingadvice.com/blog/?p=4486#comment-591030 I agree with your thoughts also. Sometimes your plans are delayed because of an unexpected expense. I plan with that thought in mind and mentally allow for more time to attain my goals. I look at month to month but sometimes I get bored. I might spend a few dollars that I haven't planned but I'm back working the budget the next day. I agree with your thoughts also. Sometimes your plans are delayed because of an unexpected expense. I plan with that thought in mind and mentally allow for more time to attain my goals. I look at month to month but sometimes I get bored. I might spend a few dollars that I haven’t planned but I’m back working the budget the next day.

]]> By: Maureen http://www.savingadvice.com/articles/2009/05/21/104486_the-daily-approach-to-financial-improvement.html/comment-page-1/#comment-590904 Maureen Thu, 21 May 2009 10:47:29 +0000 http://www.savingadvice.com/blog/?p=4486#comment-590904 I really like the simplicity of this. It's true that when you look at your goals they can seem out of reach but if you break it down it seems like nothing. It's kind of similar to revision. When you look at how you have to learn all of a module it looks overwhelming but then if you break that into sections and have daily goals to reach it's much more achievable. I think it really helps to have this mindset. It means you can spend less time worrying about this massive goal and more time on daily life goals. It also makes you more aware of what you're needlessly throwing your money away on every day. I really like the simplicity of this. It’s true that when you look at your goals they can seem out of reach but if you break it down it seems like nothing. It’s kind of similar to revision. When you look at how you have to learn all of a module it looks overwhelming but then if you break that into sections and have daily goals to reach it’s much more achievable.

I think it really helps to have this mindset. It means you can spend less time worrying about this massive goal and more time on daily life goals. It also makes you more aware of what you’re needlessly throwing your money away on every day.

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